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Solar Financing and Tax Incentives

Solar Energy Benefits, Financing, and Tax Incentives in Pueblo, CO

Going solar is not only good for the planet, it's also good for your family and your personal finances. If you are considering powering your life with clean solar energy, consider the advantages of investing in this service with the following facts:

Investing in solar power is the same as investing in other home or business improvements like remodeling a basement or re-structuring your office. Solar loans are like other home improvement loans. As solar energy has become more popular in our world, financial institutions and solar companies can offer buyers easy payment plans over a fixed term with low, locked-in interest rates.

Financing your Solar Energy Choice

Solar loans generally give the borrower immediate ownership of the panels, so they can benefit from solar tax credits, rebates, and lower energy costs as soon as the panels are installed and working. A good way to plan for the expense of installing solar panels is to average your electricity costs over a year and arrange for a loan with monthly payments that do not exceed your energy bill. Photon Brothers have a team of professionals who can advise you on these investment choices and how to properly save and apply for a loan.

Alternative ways to fund your solar investment are solar leases and power purchase agreements (PPAs). These choices mean that a third party owns your panels, but you pay a small, monthly fee to use the clean, green energy. Basically, like the concept of a leased car. Leases and PPAs are similar in that initial installation charges are minimal, and maintenance is not your responsibility. Repairs are up to the company that owns your panels to keep them in good working order. These two options have important differences that need to be factored into your decision. We have outlined these differences for your convenience below:

  • With a lease, you will be charged a fixed monthly fee for renting the equipment.
  • With a lease with a purchase option, you pay a fixed monthly rental fee, but you have the option to purchase the panels at the end of the lease term. After purchase, maintenance is your responsibility.
  • With a PPA, your bill for power generated by the panels is well below market rates.

Investing in solar power is the same as investing in other home or business improvements like remodeling a basement or re-structuring your office. Solar loans are like other home improvement loans. As solar energy has become more popular in our world, financial institutions and solar companies can offer buyers easy payment plans over a fixed term with low, locked-in interest rates.

Solar Power Tax Incentives

If you own your solar panels in Pueblo, CO, instead of leasing them, you are entitled to an array of tax incentives. You are already aware that your home will increase in value, but Colorado will not penalize you for improving your home with solar energy. You will not be taxed extra on the added real estate value due to solar panels and systems.

The government wants you to invest in solar energy and offers an incentive program that many homeowners find extremely motivating. The federal solar tax credit, also called an investment tax credit (ITC), allows to you deduct 30% of what you would pay to get a solar energy system installed. Even better, there is no limit on your investment, meaning there’s no "cap" with how much you can invest in order to earn these tax credits.

Colorado has some of the best solar energy rebates and tax breaks in the country, making our state the leader in renewable energy. You will get paid for all the extra energy you generate thanks to a concept called net metering. Many Colorado utilities and local organizations offer cash rebates to homeowners who install solar power. 

Programs, rebates, and tax credits are moving with the growth of households embracing clean energy. At Photon Brothers, we are committed to providing the best standard of installations in the solar business in Southern Colorado, and we have 8+ years of experience and veteran installation technicians to back that up. We know the business, the tax breaks and rebates, and local Pueblo opportunities for any customer. We know how to make solar energy work best for you. Please give us a call to discuss your Southern Colorado solar energy options you’re wanting today and possible future planning as well.

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